ELMŰ, ÉMÁSZ profits climbed to HUF 4.3 bln in Q1
Combined after-tax profit from continuing activities of regional electricity distributors ELMŰ and ÉMÁSZ, both majority-owned by Germanyʼs RWE-EnBW, came to about HUF 4.3 billion in the first quarter, according to an earnings reports published late yesterday, Hungarian news agency MTI reported.
ELMŰ, which distributes electricity in the capital, said its after-tax profit rose 124% to HUF 3.3 bln. Revenue climbed 5% to HUF 47.6 bln, outpacing the increase in material costs, which were up 3% at HUF 34.8 bln, MTI reported.
ÉMÁSZ, which distributes electricity in northern Hungary, said its after-tax profit fell 6% to HUF 1 bln. Revenue was down 4% at HUF 15.4 bln, but material costs fell even further, by 8% to HUF 8.9 bln, according to the news agency. Still, higher corporate tax payments weighed on the firm’s bottom line.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.